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Stock impact report

Mitsui Sumitomo Insurance to take 18% stake in MassMutual's Barings for $1.4bn [Yahoo! Finance]

MS&AD INS GRP HL UNSP/ADR (MSADY) 
NASDAQ:AMEX Investor Relations: nationalmssociety.org/what-is-ms
Company Research Source: Yahoo! Finance
The transaction will see MassMutual receive approximately $1.44bn (Y223.43bn) in cash. Barings manages more than $470bn in assets worldwide. After the sale, MassMutual will continue to hold a majority position in Barings, maintaining an 82% stake and full governance control. Barings will keep managing most of MassMutual's general investment account and remains integral to its asset management approach. According to both companies, Barings will continue its operations as an independent subsidiary with no planned alterations to its daily business activities or investment processes. Barings CEO and chairman Mike Freno said: “We are excited to partner with MS&AD and believe this is a unique opportunity to accelerate Barings' growth. “Building on MassMutual's continued support, Barings will combine growth capital with our scale and expertise in public and private markets to drive our long-term strategy and deliver solutions for clients.” MS&AD will offer capital to support B Show less Read more
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